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  • Zameer Attar
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    Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.

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    $755 Million Withdrawn from BTC and ETH ETFs After Trade War Fears

    Story Highlights
    • Bitcoin ETFs recorded a net outflow of $326.52 million with only BlackRock IBIT posting inflows for the day

    • Ethereum ETFs posted a sell-off of $428.52 million, with no inflows

    • Bitcoin is trading at $113,499.05, while Ethereum is priced at $4,142.32.

    On October 13, both U.S. spot ETFs, Bitcoin, and Ethereum recorded heavy outflows. According to data from SoSoValue, Bitcoin ETFs withdrew $326.52 million, while Ethereum ETFs transferred $428.52 million. 

    Bitcoin ETF Breakdown

    With only six out of twelve ETFs posting action, Bitcoin ETFs recorded a net outflow of $326.52 million. BlackRock IBIT was the only ETF to post $60.36 million in inflows for the session. Following ETFs posted outflow: 

    • Grayscale GBTC: $145.39 million
    • Bitwise BITB: $115.64 million
    • Fidelity FBTC: $93.28 million 
    • Ark & 21Shares ARKB: $21.12 million 
    • VanEck HODL: $11.44 million 

    Despite moving off a heavy amount, Bitcoin ETFs recorded $6.63 billion in trading value with total net assets of $157.18 billion. This marks 6.81% of the Bitcoin market cap. 

    Ethereum ETF Breakdown 

    Ethereum ETFs posted a sell-off of $428.52 million, with no inflows for the day. Seven out of nine ETFs posted action for the day. 

    • BlackRock ETHA: $310.13 million 
    • Grayscale ETH: $49.67 million 
    • Grayscale ETHE: $20.99 million 
    • Fidelity FETH: $19.12 million 
    • Bitwise ETHW: $12.80 million 
    • VanEck ETHV: $9.34 million 
    • Franklin EZET: $6.46 million

    Total trading volume in Ethereum ETFs reached $2.82 billion with net assets of $28.75 billion. This represents 5.56% of the Ethereum market cap. 

    Market Context 

    Bitcoin is trading at $113,499.05, after a 1.3% drop in 24 hours. Its market cap has reached $2.260 trillion, which also dipped this week. The daily trading volume has reached $69.02 billion, showing a slow market. 

    Meanwhile, Ethereum is priced at $4,142.32, with a market cap of $500.809 billion. Its trading volume has dropped to $48.3 billion, marking a 21.25% dip compared to the previous day. 

    Why BTC and ETH prices plunged: 

    After President Donald Trump threatened new tariffs on imports from China, investors feared a trade war between the two countries. This triggered investors to sell off risky assets like tech stocks and crypto, which resulted in a crypto market crash. 

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